MannKind (NASDAQ:MNKD) Given “Outperform” Rating at Wedbush

Wedbush reissued their outperform rating on shares of MannKind (NASDAQ:MNKD) in a research note released on Thursday,RTT News reports. They currently have a $11.00 target price on the biopharmaceutical company’s stock.

Several other equities research analysts have also recently commented on MNKD. Wells Fargo & Company initiated coverage on shares of MannKind in a research report on Friday, December 20th. They issued an “overweight” rating and a $9.00 price target on the stock. Royal Bank of Canada upgraded shares of MannKind from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $7.00 to $10.00 in a research note on Thursday, December 19th. Finally, StockNews.com raised shares of MannKind from a “hold” rating to a “buy” rating in a research note on Wednesday. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $9.21.

MannKind Stock Down 4.4 %

NASDAQ MNKD opened at $5.23 on Thursday. The stock has a market cap of $1.44 billion, a PE ratio of 74.71 and a beta of 1.28. The business has a 50 day moving average price of $6.01 and a two-hundred day moving average price of $6.27. MannKind has a fifty-two week low of $3.86 and a fifty-two week high of $7.63.

MannKind (NASDAQ:MNKD) last released its quarterly earnings results on Wednesday, February 26th. The biopharmaceutical company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $76.78 million during the quarter, compared to the consensus estimate of $74.99 million. MannKind had a net margin of 8.07% and a negative return on equity of 17.74%. Sell-side analysts anticipate that MannKind will post 0.1 EPS for the current fiscal year.

Institutional Investors Weigh In On MannKind

Several hedge funds have recently bought and sold shares of MNKD. Private Advisor Group LLC boosted its holdings in MannKind by 45.7% in the 3rd quarter. Private Advisor Group LLC now owns 30,585 shares of the biopharmaceutical company’s stock valued at $192,000 after purchasing an additional 9,588 shares during the period. International Assets Investment Management LLC boosted its stake in shares of MannKind by 511.6% in the third quarter. International Assets Investment Management LLC now owns 88,689 shares of the biopharmaceutical company’s stock valued at $558,000 after buying an additional 74,189 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in MannKind by 22.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,946 shares of the biopharmaceutical company’s stock worth $62,000 after buying an additional 1,816 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in MannKind by 65.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 52,890 shares of the biopharmaceutical company’s stock worth $333,000 after acquiring an additional 20,896 shares during the period. Finally, US Bancorp DE bought a new stake in shares of MannKind during the 3rd quarter valued at $407,000. 49.55% of the stock is currently owned by institutional investors and hedge funds.

About MannKind

MannKind Corporation, a biopharmaceutical company, focuses on the development and commercialization of inhaled therapeutic products for endocrine and orphan lung diseases in the United States. It offers Afrezza, an inhaled insulin used to improve glycemic control in adults with diabetes, and the V-Go wearable insulin delivery device, which provides continuous subcutaneous infusion of insulin in adults.